{"id":18676,"date":"2023-09-18T12:37:30","date_gmt":"2023-09-18T16:37:30","guid":{"rendered":"https:\/\/www.certitrek.com\/nlpa\/blog\/cost-savings-vs-keeping-a-supplier-in-business-2\/"},"modified":"2025-06-24T07:53:43","modified_gmt":"2025-06-24T11:53:43","slug":"cost-savings-vs-keeping-a-supplier-in-business-2","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nlpa\/blog\/cost-savings-vs-keeping-a-supplier-in-business-2\/","title":{"rendered":"Cost Savings vs. Keeping A Supplier In Business"},"content":{"rendered":"<p>For those of you who need one, a bad economy is a great excuse to beginning <a href=\"https:\/\/www.certitrek.com\/nlpa\/procurement-training\/courses\/procurement-negotiation\">procurement negotiations <\/a>with your suppliers. But a bad economy also means that some <a href=\"https:\/\/www.certitrek.com\/nlpa\/articles\/supplier-risk.php\">financially weaker suppliers may be on the brink of going out of business<\/a>. This is a scenario that both  and  often evaluate when planning supplier risk strategies.<\/p>\n<p><a class=\"text-ad\" href=\"\/plans-pricing\/free-membership?utm_source=textad\">Don\u2019t miss updates on Procurement &amp; Supply Chain, Subscribe here!<\/a><\/p>\n<p>So do you negotiate with these suppliers to support your <a href=\"https:\/\/www.certitrek.com\/nlpa\/articles\/cost-savings-goal.php\">cost savings goal<\/a>? Or do you let them keep a little juice in their pricing so they are around for you in the immediate and long-term future?<\/p>\n<p>The answer is: \u201cit depends.\u201d<\/p>\n<p>Debbie Wilson of Gartner posted on her blog an excellent entry entitled \u201c<a href=\"http:\/\/blogs.gartner.com\/debbie_wilson\/2009\/01\/14\/is-chasing-deflation-a-good-idea\/\">Is Chasing Deflation A Good Idea?<\/a>\u201d about this very topic. She makes some thought-provoking points and I added my two cents into the comments.<\/p>\n<p>I recommend that you give it a read and, if you\u2019re brave, enter into the discussion as well.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>For those of you who need one, a bad economy [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-18676","post","type-post","status-publish","format-standard","hentry","category-procurement"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.4 (Yoast SEO v19.13) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cost Savings vs. Keeping A Supplier In Business - Next Level Purchasing Association (NLPA)<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/cost-savings-vs-keeping-a-supplier-in-business-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cost Savings vs. Keeping A Supplier In Business\" \/>\n<meta property=\"og:description\" content=\"For those of you who need one, a bad economy [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.certitrek.com\/nlpa\/blog\/cost-savings-vs-keeping-a-supplier-in-business-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Next Level Purchasing Association (NLPA)\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/NextLevelPurchasing\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-18T16:37:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-06-24T11:53:43+00:00\" \/>\n<meta name=\"author\" content=\"monikadubey\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:site\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"monikadubey\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/cost-savings-vs-keeping-a-supplier-in-business-2\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/cost-savings-vs-keeping-a-supplier-in-business-2\/\"},\"author\":{\"name\":\"monikadubey\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/#\/schema\/person\/59932300de1fae4b1f1e144b8fa1f3e7\"},\"headline\":\"Cost Savings vs. Keeping A Supplier In Business\",\"datePublished\":\"2023-09-18T16:37:30+00:00\",\"dateModified\":\"2025-06-24T11:53:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/cost-savings-vs-keeping-a-supplier-in-business-2\/\"},\"wordCount\":172,\"publisher\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/#organization\"},\"articleSection\":[\"Procurement\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/cost-savings-vs-keeping-a-supplier-in-business-2\/\",\"url\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/cost-savings-vs-keeping-a-supplier-in-business-2\/\",\"name\":\"Cost Savings vs. Keeping A Supplier In Business - 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